Automotive

Today’s automotive industry is affected by many trends. Governments are tempering the need for revenue with increased competition for labor and capital. Tax authorities are adapting their enforcement strategies, focus and policies in response to the changing dynamics of business. Companies are balancing competing priorities, ensuring they maintain compliance while adding value.

Through EY’s Global Automotive Center, we can assist you with these critical issues. Our 7,000 automotive-focused professionals collaborate and share knowledge around the world, to provide consistent, high-quality service to our automotive clients.

The global recession reset the automotive industry landscape. As the industry recovers, automotive companies across the value chain must focus on:

profitable and sustainable growth

financial and operational flexibility

investments in new technologies

seizing opportunities in high-growth markets

Automotive companies should ask themselves the following five questions to help prepare for the next decade.

How will products need to adapt?

How will business models need to adapt?

What are the new market dynamics?

What are the supply/value chain issues and implications?

How will demand for vehicles and mobility evolve?

When we thought about the possible ways automakers could answer these questions, those answers led us to identify eight mega trends shaping the industry over the next decade. Knowing more about these mega trends can help you understand how your business can leverage opportunities in the industry.

Existing vehicle manufacturers (VMs) are adding alternatively powered vehicles to their product line-ups, such as plug-in hybrids and pure electric vehicles, while new market entrants are using transformation of mobility drivers as their door into the automotive industry.

Our Advanced Mobility Group is poised to help automotive companies navigate this transformation, including assistance with investment decision support, business process change, strategy and increased collaboration.

Increasing your understanding of new opportunities is our goal. In addition to traditional automotive companies, we also work with:

Cities looking for a sustainable EV infrastructure strategy

Policy-makers designing EV industry support mechanisms to jump-start the market

Utilities looking for new revenue streams and greater client engagement

In moments of crisis or unforeseen transitions, it’s important to have a support network to turn to for guidance. From natural disasters to company mergers and changes in tax regulations, automotive companies are not immune to the effects of the unexpected.

The rise of emerging markets gives the automotive industry a new business prospective. Challenges and opportunities exist in a growing middle class, evolving government regulations and increasing competition.

Whether you have a tight focus on the BRIC countries or want to see the full range of emerging market growth, we provide a global perspective.

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EY Insights with WJR Radio

Global Automotive and Transportation Leader Randy Miller, EY Detroit Office Managing Partner, George Lenyo, and Global Automotive and Transportation Marketing Leader, Regan Grant met with WWJR Radio's Paul W. Smith on the show floor of the 2015 North American International Auto Show for a discussion on the industry. They were joined by Ford's Futurist, Sheryl Connelly, and the National Auto Dealers' Association's Chairman, Forrest McConnell.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.